XRP Price Prediction: $2.90 Pivot in Play as ETF Approval Odds Hit 100%
XRP is at $2.85, down a bit in the last 24 hours, with a market cap of about $170.6 billion. This is a big moment for crypto...
Quick overview
- XRP is currently priced at $2.85 with a market cap of approximately $170.6 billion.
- Bloomberg's Eric Balchunas has raised the odds of a spot crypto ETF to 100% following the SEC's recent changes to filing requirements.
- October is expected to be a significant month for crypto ETF decisions, with key deadlines for various ETFs approaching.
- XRP is consolidating in a descending triangle pattern, with critical resistance at $2.90 and support at $2.70.
XRP is at $2.85, down a bit in the last 24 hours, with a market cap of about $170.6 billion. This is a big moment for crypto as Bloomberg’s Eric Balchunas just raised the odds of a spot crypto ETF to 100% after the SEC voided 19b-4 filings.
Instead, ETF applicants only need an S-1 registration statement and final approval from the SEC’s Division of Corporation Finance. Balchunas noted that with amendment #4 just filed for a Solana ETF, a decision could come “any day.”
- October 2: SEC deadline on Canary’s Litecoin ETF
- October 10: Reviews for Solana ETFs from Grayscale, VanEck, and Fidelity
- October 17: SEC decision on XRP ETF applications from Grayscale, Bitwise, WisdomTree, and others
Market watchers, including Nate Geraci of NovaDius Wealth, say October could be the busiest month for crypto ETF decisions yet.
XRP ETF Timeline
XRP’s ETF review on October 17 will be a big one. Over 16 crypto ETFs are lined up, from Litecoin to HBAR. Analysts think approvals would bring in institutional money and change the liquidity dynamics.
But there’s still uncertainty. The SEC has delayed or denied ETF filings in the past and while the generic listing standards simplify the process, approval isn’t guaranteed until CorpFin says yes.
Technical Setup for XRP
Technically, XRP is consolidating in a descending triangle, with resistance at $2.89-$2.90 and support at $2.70. Price is above both the 50-EMA ($2.84) and 200-EMA ($2.89) but momentum is flat.
RSI is 49, so there’s room for volatility. Key levels:
- Bullish case: Break above $2.90 could target $2.98-$3.14
- Bearish case: Failure at resistance could take XRP back to $2.70-$2.59
Trade setup: Novice traders may want to wait for a daily close above $2.90 before going long with stops at $2.83. A break below $2.70 could be a short trade targeting the mid-$2.50s.Stuck.
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